Financial Crime World

Swizzering Past Scams: NetGuardians Uncovers Financial Fraud Cases in Switzerland and Beyond

NetGuardians, a leading financial security company, announced the prevention of several successful fraud attempts involving Swiss and Dutch banks. Here are the details of the cases NetGuardians helped prevent:

1. Account Takeover Fraud, Switzerland 🇨🇭

A client in Switzerland lost CHF 19,990 through a compromised e-banking account due to a pharming attack. NetGuardians intervened to stop the fraudulent payment. Several factors raised suspicions and helped prevent the transaction:

  • New beneficiary details
  • Unusual screen resolution
  • Session browser
  • Transaction amount larger than usual

2. Social Engineering, Switzerland 🇨🇭

A fraudster posing as a bank client convinced a banking employee to authorize a transaction of CHF 1,000,000. However, the payment was blocked by NetGuardians, as the transaction seemed unusual given the:

  • Lack of historical data on the new client

3. Social Engineering and Tech Support Scam, The Netherlands ��utch_flag

A fraudster impersonating a Microsoft tech support representative successfully convinced a client to reveal their e-banking credentials, leading to a CHF 22,114 transfer to an illicit account. NetGuardians’ AI risk models halted the transfer due to:

  • Unusual transaction characteristics
  • New customer profile
  • Transaction’s screen resolution

4. Account Takeover Fraud, The Netherlands ��utch_flag

A fraudster posing as a bank agent convinced a customer to reveal their e-banking credentials through social engineering, leading to a payment of CHF 33,170 to a fraudulent account. NetGuardians’ AI risk models identified the transaction as fraudulent based on:

  • Unusual e-banking metrics
  • Customer’s usual e-banking language
  • Browser
  • Screen resolution

5. Tech Support Scam, Lithuania 🇱🇹

A fraudster posing as a Microsoft tech support worker gained access to a victim’s e-banking information and transferred USD 7,500 to an illicit account in the U.S. NetGuardians detected the transaction based on its inconsistencies with the customer’s profile, including:

  • Unusual currency
  • Transaction type
  • Beneficiary account
  • Beneficiary country
  • Account ID
  • Account type

Stay informed about the latest fraud cases and security technologies by downloading our white paper. It covers a range of banking fraud cases, emerging threats, and the most effective technologies for fraud detection and prevention.

For more information on NetGuardians’ solutions and services, please contact us:

  • Switzerland: [Contact Information]
  • Singapore: [Contact Information]
  • Kenya: [Contact Information]